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Beef Market Update From Cattle Industry Convention

During the 2010 Cattle Industry Annual Convention and Trade Show in San Antonio, TX, nearly 6,000 ranchers were in attendance. While there, they may have visited the BEEF booth in the trade show, where readers could stop and vote for their favorite
BEEF Daily photo. The 2009 champions went head to head against each other in a vote that would decide the best photograph of 2009. Featured in this showdown were photos by Lennie Phillips of Helmville, MT, Kiley Martinell of Dell, MT and Erin Holker of Ramsey, MN. Congratulations to Kiley Martinell with her champion photo, "Macie and the Heifers." Martinell will receive a grand prize in the mail for her win!

Voters had a chance to redeem prizes, as well. More than 140 folks voted in the contest. Each person put their name in a drawing to win a 2010 calendar. A special shout out to the convention winners: Bill Sexten, Wash., OH; Cindy Koep, Lakefield, MN; Judy Talley, Stanfield, NC; Dave Shoemaker, Ashland, OH; Mike Geske, Matthews, MO; Chelsea Marshall, San Luis Obispo, CA; Tim Spiua, Wildorado, TX; Dee Ellis, Rockdale, TX; and Colleen Sanders, Liberty, MO. Thanks for stopping by the booth and participating.

Now for the beef market update from Cattle-Fax, as presented at the 2010 Cattle Industry Convention and Trade Show:

-Cattle supplies will decline another 1% during 2010. An expected increase in beef exports and smaller beef production will lead to a 4% decline in per capita net beef supplies.

-Cattle and beef prices are expected to average slightly higher than year ago levels in 2010. Profits will improve but will remain thin for cow/calf operators and cattle feeders.

-Export volumes are expected to increase by 8% in 2010 based on growing demand from South Korea. Japan has increased U.S. purchases of beef by 34% each year over the past two years, as more source-and-age eligible cattle have become available. With feeder cattle imports back near 1 million head/year, expect Mexican demand for U.S. beef to improve in 2010. The Choice/Select spread will likely widen slightly in 2010 and average near $5.50 compared to $5 in 2009.

-Finally, listen to Cattle-Fax weatherman Art Douglas, Ph.D. talk to producers about the 2010 weather outlook and the affects of El Nino and world weather patterns during the 2010 Cattle Industry Annual Convention and Trade Show.